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  • Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
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    MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

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  • The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

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    The FAAC's revenue distribution from 2017 to August 2023 highlights the dominance of Delta, Akwa Ibom, Rivers, and Bayelsa states in allocations. Despite Lagos' economic prominence, it ranked fifth. Here is the distribution of revenue among states between 2017 and August 2023.

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  • A Trend of Adult literacy rates of African countries

    Between 2018 and 2021, adult literacy rates across African nations exhibited significant disparities. Seychelles and South Africa led with literacy rates of 96% and 95%, respectively, indicating a high proportion of literate adults. Conversely, Chad had the lowest literacy rate during this period.

    These statistics underscore the uneven progress in educational attainment across Africa, highlighting the need for targeted interventions to improve literacy in lower-performing nations.

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    Nigeria was the seventh most populous nation in the world in 2020, with 206.1 million people. Projected to reach a population of 401.3 million by 2050, Nigeria will rank third after India (1st) and China (2nd). According to Institut national d'études démographiques' projections, Nigeria, Ethiopia, DR Congo, Egypt, Tanzania, and Kenya will be among the world’s top 20 most populous countries by 2050.

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  • Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
    See more

  • MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

    See more

  • The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

    See more
Other Insights
 
  • Malawi recorded Africa’s largest life expectancy gain, adding 21.4 years between 2000 and 2024.
  • Rwanda and Zambia also added about 20 years each.
  • Africa’s average life expectancy gain was 10.6 years, higher than the global gain of 5.8 years.
  • Nigeria added 7.5 years, rising to 54.6 years in 2024.
  • Despite improvement, Nigeria remained below both the African average of 65.7 years and the gains recorded by the top improvers.
  • Most of the biggest gains came from countries that started the period with very low life expectancy levels.
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  • Eswatini recorded Africa’s largest electricity access gain, rising by 66 percentage points from 2000 to 2023.
  • Kenya and Rwanda followed with gains of 61 pp and 58 pp, respectively.
  • East African countries accounted for 7 of Africa’s top 15 electricity access improvements.
  • Comoros, Ghana and Cape Verde reached very high access levels by 2023, at 90%, 90% and 99% respectively.
  • Nigeria’s electricity access improved by 18 percentage points, from 43% in 2000 to 61% in 2023.
  • Despite that improvement, Nigeria remained outside Africa’s top 15 gainers over the period.
  • Some countries were absent from the ranking because they had already reached high access levels by 2000.
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  • Nigeria still had about 5.25 million unmetered electricity customers across DisCos.
  • The 11 DisCos reported in Q4 2025 had 5.20 million unmetered customers.
  • Nigeria’s reported metering rate stood at 57.3% as of Q4 2025.
  • Ibadan and Enugu had the largest gaps, with nearly two million unmetered customers combined.
  • Ibadan alone had 1.18 million unmetered customers, the highest of any DisCo.
  • Ikeja and Eko had the strongest metering performance, both at about 86%.
  • At the 2025 pace of meter additions, closing the current gap could take close to seven years.
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  • Nigeria collected ₦34.62 trillion in company income tax across 45 quarters from Q1 2015 to Q1 2026.
  • Average quarterly collection stood at about ₦769 billion over the period.
  • CIT collections stayed below ₦1 trillion in every quarter until Q2 2023.
  • Since Q2 2024, collections have remained above ₦1 trillion for eight straight quarters.
  • The highest quarterly collection was ₦2.96 trillion in Q3 2025.
  • Annual CIT collections rose sharply from ₦2.82 trillion in 2022 to ₦9.21 trillion in 2025.
  • The recent surge is nominal and likely reflects stronger collections, inflation, naira depreciation, and higher naira-value foreign CIT receipts.
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  • Africa imported merchandise worth $788.9 billion in 2025, representing about 3% of global merchandise imports.
  • South Africa was Africa’s largest merchandise importer, with imports valued at $128.1 billion.
  • Egypt ranked second at $97.5 billion, followed by Morocco at $87.4 billion.
  • The three largest importers accounted for $313 billion, or 39.7% of Africa’s total merchandise imports.
  • South Africa alone accounted for about 16.2% of the continental total.
  • The five largest importers, including Algeria and Nigeria, were responsible for $404.6 billion, or 51.3% of Africa’s imports.
  • Nigeria ranked fifth, with merchandise imports valued at $41.5 billion.
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  • Only 16.9% of Africa’s merchandise exports were sold to other African countries in 2024.
  • Africa had the second-lowest intra-continental export share, ahead only of Oceania’s 4.8%.
  • Europe recorded the highest share at 65.6%, followed by Asia at 58.4% and the Americas at 54.0%.
  • Europe’s intra-continental export share was nearly four times Africa’s.
  • Africa’s share increased from 12.1% in 1995 to 16.9% in 2024, a rise of 4.8 percentage points.
  • Despite this long-term improvement, Africa remained below its 2015 peak of 18.8%.
  • Africa has not crossed the 20% mark at any point in the three decades covered.
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  • Nigeria’s year-on-year food inflation rose for the fourth consecutive month, from 8.89% in January 2026 to 16.96% in May.
  • The rate increased by 8.07 percentage points within the first five months of 2026.
  • May’s 16.96% rate means food prices were, on average, 16.96% higher than they were in May 2025.
  • Food inflation rose from 12.12% in February to 14.31% in March and 16.06% in April before reaching 16.96% in May.
  • Food inflation exceeded Nigeria’s 15.93% headline inflation rate in May, showing that food was a major source of renewed pressure on household expenses.
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  • Nigeria recorded the third-highest food inflation rate among 44 African countries in May 2026.
  • At 16.96%, Nigeria’s rate was lower only than Libya and Malawi, both at 17.6%.
  • Nigeria’s food inflation was nearly 3.5 times the 4.88% average across the countries covered.
  • Eight of the ten countries with the highest food inflation recorded rates above 10%.
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  • Estimated visitor visa fee spending reached $193 million between FY 2018 and FY 2025.
  • Applicants paid the fee whether their visas were approved or refused.
  • Estimated spending peaked at $49.8 million in FY 2018.
  • Spending recovered to $25.1 million in FY 2024 before falling to $23.2 million in FY 2025.
  • The estimates exclude transport, documents, agents, accommodation and other related costs.
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  • Thirteen of Nigeria’s 21 sectors recorded year-on-year declines in CIT collections.
  • Extraterritorial organisations recorded the steepest fall at 53.9%.
  • Construction collections fell by 52.4%, the second-largest decline.
  • Mining and agriculture declined by 39.4% and 40.8%, respectively.
  • Manufacturing still generated ₦74.5 billion despite a 31.0% decline.
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  • U.S. nonimmigrant visa issuances to Africans fell by 23.6% to 413,259.
  • Twenty-five visa categories still recorded increases despite the overall decline.
  • C3 visas posted the largest numerical increase, rising by 949.
  • H2A agricultural worker visas increased by 820 to 15,623.
  • B1/B2 visitor visas recorded the biggest decline, falling by 109,653.
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  • Africa’s merchandise exports reached $689.2 billion in 2025.
  • Exports grew by 9.7%, the fastest rate outside Asia.
  • Africa accounted for just 2.6% of global merchandise exports.
  • South Africa led with $116.4 billion, followed by Nigeria and Egypt.
  • The top 15 economies generated 79.3% of Africa’s exports.
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1 2 3 … 129
  • Malawi recorded Africa’s largest life expectancy gain, adding 21.4 years between 2000 and 2024.
  • Rwanda and Zambia also added about 20 years each.
  • Africa’s average life expectancy gain was 10.6 years, higher than the global gain of 5.8 years.
  • Nigeria added 7.5 years, rising to 54.6 years in 2024.
  • Despite improvement, Nigeria remained below both the African average of 65.7 years and the gains recorded by the top improvers.
  • Most of the biggest gains came from countries that started the period with very low life expectancy levels.
Read more
  • Eswatini recorded Africa’s largest electricity access gain, rising by 66 percentage points from 2000 to 2023.
  • Kenya and Rwanda followed with gains of 61 pp and 58 pp, respectively.
  • East African countries accounted for 7 of Africa’s top 15 electricity access improvements.
  • Comoros, Ghana and Cape Verde reached very high access levels by 2023, at 90%, 90% and 99% respectively.
  • Nigeria’s electricity access improved by 18 percentage points, from 43% in 2000 to 61% in 2023.
  • Despite that improvement, Nigeria remained outside Africa’s top 15 gainers over the period.
  • Some countries were absent from the ranking because they had already reached high access levels by 2000.
Read more
  • Nigeria still had about 5.25 million unmetered electricity customers across DisCos.
  • The 11 DisCos reported in Q4 2025 had 5.20 million unmetered customers.
  • Nigeria’s reported metering rate stood at 57.3% as of Q4 2025.
  • Ibadan and Enugu had the largest gaps, with nearly two million unmetered customers combined.
  • Ibadan alone had 1.18 million unmetered customers, the highest of any DisCo.
  • Ikeja and Eko had the strongest metering performance, both at about 86%.
  • At the 2025 pace of meter additions, closing the current gap could take close to seven years.
Read more
  • Nigeria collected ₦34.62 trillion in company income tax across 45 quarters from Q1 2015 to Q1 2026.
  • Average quarterly collection stood at about ₦769 billion over the period.
  • CIT collections stayed below ₦1 trillion in every quarter until Q2 2023.
  • Since Q2 2024, collections have remained above ₦1 trillion for eight straight quarters.
  • The highest quarterly collection was ₦2.96 trillion in Q3 2025.
  • Annual CIT collections rose sharply from ₦2.82 trillion in 2022 to ₦9.21 trillion in 2025.
  • The recent surge is nominal and likely reflects stronger collections, inflation, naira depreciation, and higher naira-value foreign CIT receipts.
Read more
 
  • Africa imported merchandise worth $788.9 billion in 2025, representing about 3% of global merchandise imports.
  • South Africa was Africa’s largest merchandise importer, with imports valued at $128.1 billion.
  • Egypt ranked second at $97.5 billion, followed by Morocco at $87.4 billion.
  • The three largest importers accounted for $313 billion, or 39.7% of Africa’s total merchandise imports.
  • South Africa alone accounted for about 16.2% of the continental total.
  • The five largest importers, including Algeria and Nigeria, were responsible for $404.6 billion, or 51.3% of Africa’s imports.
  • Nigeria ranked fifth, with merchandise imports valued at $41.5 billion.
Read more
  • Only 16.9% of Africa’s merchandise exports were sold to other African countries in 2024.
  • Africa had the second-lowest intra-continental export share, ahead only of Oceania’s 4.8%.
  • Europe recorded the highest share at 65.6%, followed by Asia at 58.4% and the Americas at 54.0%.
  • Europe’s intra-continental export share was nearly four times Africa’s.
  • Africa’s share increased from 12.1% in 1995 to 16.9% in 2024, a rise of 4.8 percentage points.
  • Despite this long-term improvement, Africa remained below its 2015 peak of 18.8%.
  • Africa has not crossed the 20% mark at any point in the three decades covered.
Read more
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